In line with general market sentiment during the previous week, ADA finished the week at lower levels from the week before. The $0.40 resistance line has been a tight task for ADA for two last weeks, so the coin reverted to the down side, and support line at $0.35, where ADA is finishing the week.
With the latest price moves, RSI crossed the 50 line and headed to the downside, reaching level of 43. This is indication that the market started eyeing the oversold side. On a positive side is that moving averages of 50 and 200 days started moving quite close toward each other, implying that the Golden cross might occur in the near future. This would be an indication of potential positive developments for ADA, in terms of potential change of a trend.
Indicators are showing the potential for ADA to move even to the lower grounds in the coming days. It should not be expected to make any significant moves, as daily trading volumes are low. ADA will start the week ahead by testing the $0.35 support line to the downside. In case that selling orders prevail, then there might be a potential move toward $0.33. At this moment, there are no indications that the $0.30 support line might be tested. In case that $0.35 manages to hold current selling pressures, then a short reversal is possible, but with decreased probability that $0.40 resistance might be tested again.
With the latest price moves, RSI crossed the 50 line and headed to the downside, reaching level of 43. This is indication that the market started eyeing the oversold side. On a positive side is that moving averages of 50 and 200 days started moving quite close toward each other, implying that the Golden cross might occur in the near future. This would be an indication of potential positive developments for ADA, in terms of potential change of a trend.
Indicators are showing the potential for ADA to move even to the lower grounds in the coming days. It should not be expected to make any significant moves, as daily trading volumes are low. ADA will start the week ahead by testing the $0.35 support line to the downside. In case that selling orders prevail, then there might be a potential move toward $0.33. At this moment, there are no indications that the $0.30 support line might be tested. In case that $0.35 manages to hold current selling pressures, then a short reversal is possible, but with decreased probability that $0.40 resistance might be tested again.
